“As the Senate Budget Chairman, I was proud to lead this effort alongside my Senate and House Republican colleagues… Twelve months later, we are now observing transformational results stemming from this legislation. Working families are keeping more of their hard-earned money, providing relief to the lingering inflation ignited under the Biden era.” – Sen. Lindsey Graham (R-S.C.) (7/2/26)
NOW LIVE, TRUMP ACCOUNTS ARE CREATING MORE PATHWAYS FOR CHILDREN TO GET AHEAD FINANCIALLY IN THE FUTURE
- “More than 6 million accounts have been requested ahead of [the July 4] kickoff…” (Politico: Republicans bank on a Trump Accounts boost – 7/4/26)
- “About 1.4 million of those registered are babies born between 2025 and 2028, who are eligible to receive the $1,000 seed investment from the federal government.” (CNBC: Trump Accounts are live. Here’s how some families plan to use them – 7/6/26)
- “Parents, grandparents and loved ones can contribute up to $5,000 a year to what are also known as 530A accounts. Employers can also make contributions of up to $2,500 per worker per year, which are included in the $5,000 annual maximum contribution.” (CNBC: Trump Accounts are live. Here’s how some families plan to use them – 7/6/26)
- Two days after Trump Accounts went live, “President Donald Trump said … the government had deposited the first $1,000 into more than 500,000 ‘Trump Accounts,’ a program designed to give newborn Americans a stake in the stock market and help build wealth from an early age.” (Reuters: Trump says 500,000 children receive first $1,000 Trump account deposits – 7/6/26)
- “For Adam Bergman, the benefits of a Trump Account aren’t limited to the money his two sons could accumulate over decades. The new accounts are a chance to teach them how investing works.” (CNBC: Trump Accounts are live. Here’s how some families plan to use them – 7/6/26)
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- “‘It’s not just the number of dollars you’re going to have at the end of the day, but it’s hopefully opening people’s eyes to say, “Hey, this is what savings is. This is how it works,”’ he said. ‘It’s a very powerful tool.’” (CNBC: Trump Accounts are live. Here’s how some families plan to use them – 7/6/26)
TRUMP ACCOUNTS ARE BREAKING DOWN BARRIERS FOR WORKING-CLASS FAMILIES WHO HAVE HISTORICALLY MISSED OUT ON THE BENEFITS OF THE STOCK MARKET AND ARE RECEIVING PRAISE EVEN FROM DEMOCRATS
- Trump Accounts address the issue of millions of Americans missing out on stock market gains:
- As of 2025, only 62% of Americans reported owning stocks. (Gallup: What Percentage of Americans Own Stock? – 5/5/25)
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- “The percentage owning stock is highest among adults in households earning $100,000 or more (87%), college graduates (84%) and married adults (77%). By contrast, the rate is 49% among unmarried adults, 42% among those with a high school education or less, and 28% among those in households earning less than $50,000.” (Gallup: What Percentage of Americans Own Stock? – 5/5/25)
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- “Stock ownership also varies significantly by race/ethnicity, with 70% of White adults owning stock, compared with 53% of Black adults and 38% of Hispanic adults.” (Gallup: What Percentage of Americans Own Stock? – 5/5/25)
- The program is successfully opening up the stock market to working-class Americans: “Trump officials said 86 percent of the signups so far are from families making less than $200,000 annually. ‘Trump Accounts level the playing field by allowing every parent to invest in their children’s future, not just wealthy families with trust funds,’ said a Treasury spokesperson in a statement.” (Politico: Republicans bank on a Trump Accounts boost – 7/4/26)
- Democrats are also praising the program:
- “The pre-loaded accounts in particular have bipartisan support as a vehicle to help disadvantaged kids build wealth.” (Politico: Republicans bank on a Trump Accounts boost – 7/4/26)
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- “Sen. John Fetterman (D-Pa.) on Monday said he would open accounts for all three of his children as part of President Trump’s investment initiative.” (The Hill: Fetterman says he’ll open Trump Accounts for kids – 6/30/26)
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- “Gov. Wes Moore (D-MD) praised the Trump administration on Tuesday for its work launching Trump Accounts, a tax-advantaged investment account for children. ‘I will give this administration credit for this, is that we’ve had Democratic presidents and Republican presidents who have not been able to get this done, and it actually got done,’ Moore said on SiriusXM’s The Clay Cane Show.” (Washington Examiner: Gov. Wes Moore says Trump Accounts are a ‘good idea,’ giving him ‘credit’ – 7/8/26)
JULY ALSO MARKED THE FIRST TIME THAT STUDENTS PURSUING TRADE SCHOOLS CAN BE ELIGIBLE FOR PELL GRANTS, OPENING NEW DOORS FOR THE NEXT GENERATION OF WORKERS
“For every five people that are leaving the trades now, only two are coming back. So, by 2030, if we don’t remedy this, we could have about a 2.1 million shortfall, in addition to the shortages that we’re already experiencing.” – Secretary of Education Linda McMahon
“This is a very strategic investment in vocational training from the federal government and we’ve never seen it before. The potential is absolutely huge.” – Kenneth Adams, president of New York City’s LaGuardia Community College
- “More students are pursuing trade school and other job-credential programs instead of a four-year college degree. Now the financial-aid system is catching up with them.” (The Wall Street Journal: The Toolbelt Generation Can Now Get Federal Aid for Trade School. Here’s What to Know. – 7/2/26)
- As part of last year’s Working Families Tax Cuts law, “Wednesday marked the official launch of Workforce Pell Grants, making the federal financial-aid program long popular with college students available for short-term vocational training.” (The Wall Street Journal: The Toolbelt Generation Can Now Get Federal Aid for Trade School. Here’s What to Know. – 7/2/26)
- “As of July 1, they are also available to students earning career credentials. Think of people studying to be paramedics, cybersecurity technicians, court reporters, or HVAC—heating, ventilation and air conditioning—specialists.” (The Wall Street Journal: The Toolbelt Generation Can Now Get Federal Aid for Trade School. Here’s What to Know. – 7/2/26)
- “The initiative will allow eligible students to use Pell Grants for credential and certification programs that can lead to employment in as little as eight weeks, McMahon said. The administration says the program is aimed at helping fill labor shortages in industries including skilled trades, manufacturing and health care as companies ramp up hiring and expand domestic production.” (Fox Business: Trump admin rolls out Workforce Pell Grants to fast-track workers into high-demand jobs – 5/18/26)
- In addition to expanding eligibility for Pell Grants, the Working Families Tax Cuts law also increased Pell Grant funding by $10.5 billion overall. (The Wall Street Journal: Tax Cuts, Student Loans, Medicaid: What’s in the GOP’s Megabill – 7/3/25; U.S. Senate Committee on Health, Education, Labor & Pensions: President Trump, Republicans Deliver Historic Wins in One Big Beautiful Bill, Reforming America’s Broken Higher Education System – 8/1/25)